Hacks in November

[batang_bitcoin]

All of these happened this November? That's a lot, most of them I have never heard any major news.
Are these signs of bull runs? No. I don't think that hacks should be indications that we're already in the bull run.
And that is because even when we were on the bear market, there were hacks already and these hackers don't choose a season to hack a project.

[Mate2237]

Wow!! This is a huge amount of money that were hacked in the month of November 2023. And I believed it is an individual accounts that were hacked and not big companies. Hackers are roaming around the internet to whom to devour. So if you have enough funds in your wallets then security is your watch dog.  Many people are careless about their security in internet. Some are even using another person device to check their wallets. That is a careless person.

Probably the hacked were not in Companies so it didn't affect the market but if it were big companies then people's funds would have been lost and with that it would have affected the cryptocurrency market. Please don't disclose your security information to anyone except yourself and one trusted person.

[Belarge]

All of these happened this November? That's a lot, most of them I have never heard any major news.
Are these signs of bull runs? No. I don't think that hacks should be indications that we're already in the bull run.
And that is because even when we were on the bear market, there were hacks already and these hackers don't choose a season to hack a project.

We have hacks in the market, but we just keep everything low because these hack spree have become the major problems most brokers faces specifically the ones that don't have a strong security wall, they're under probability of losing everything, because they're dealing with top hackers and not some random newbies, we're talking about group work that prefers to stay anonymous. Hackers are always available to flip reasonable amounts from the market, that's specifically what they're known for, they enter the market at the appropriate time given for them and do their dirty job and leaves, that's specifically how they operates.

[danherbias07]

Hacking incidents as signs of bull run? That never crossed my mind but who knows, maybe.

Let's just be glad that it is not affecting the market too much. Years ago, those amounts of money would affect dearly the market of any coin if it announced that a part of it was hacked.
I guess the diversified number of coins today did help. Maybe there's not much that was hacked in Bitcoin and the popular altcoins due to the security of the exchange.
These hackers will just keep on attacking exchanges from now on because they cannot do that on a blockchain and investors must know about this. The big reason why it's dangerous to keep large amounts of cryptocurrencies in an exchange. The one thing that has been warned here in the forum over and over again.

[o48o]

Seems hacking incidents this month are really huge! Do you think this is one of the many signs that we are already in the bull run?
Hackers are everywhere and trying to take advantage of a lot of users and volume, especially in Decentralized Finance (DeFi).
I am also curious even we have a lot of hacks this month, market still holding strong.

As you can see, the recent hacks were major in the DeFi market, different platforms or networks.

Weird how people still will get alarmed more when anything centralized gets hacked in any way. No matter if it's a casino, exchange, bank, or anything. They will say that "look, i told putting your money on centralized service was dangerous. It's your own fault."

Then they keep on praising dexes, just because they are decentralized. No matter if they are full of security holes. I am honestly weirded out how this $50 mil exlpot is now considered normal day in crypto. Not far back in days $10 million usd robbery was considered to be worth of hollywood a-listers movie, with unrealistic hackers, grifters, ninjas and femme fatales.

[bluebit25]

I agree that this is one of the signs to enter a new bull cycle, when there are a lot of attacks, FUD, negativity in society,... that is a good time to start a new action. new program. But the scale and number of recent hacks make me imagine that there will be attacks that cause serious damage that people need to pay attention to. Furthermore, it is also necessary to pay attention to activities with CEX recently, where attacks occurred on a large scale.I think there are better innovations in the crypto space that can give participants peace of mind, but we still need to observe more events taking place to review the relationship between, and what is causing the current market condition?

[FinneysTrueVision]

The majority of these funds were stolen from Justin Sun owned platforms. That's far too suspicious to be a coincidence. After seeing what's happened to Sam Bankman Fried and CZ, it could be that he is executing a grand exit scam. This theory seems entirely plausible taking into account that Tron and Bittorrent were recently charged by the SEC with committing securities fraud.

[Silberman]

Why is it that most Defi are always targeted by hackers, is the security of Defi very easy to hack?
however those in defi should have anticipated this after seeing other defi projects hit by hacks

I would suppose that it often happens is that those projects due to their desire to hit the markets as fast as possible, fail to debug their code and make sure their security is up to the standards necessary to perform the service they promote, so hackers with a lot of experience can find those bugs and then take advantage of them, so as this market gets more popular it would not surprise me if the number and the intensity of those hacks increased, especially now that we are getting closer to the bull run.

[Sophokles]

Hacking became an organized crime in the crypto industry. Especially on name came up frequently and that is north korea. Their government run hacking group is very good at finding exploits and kim is earning a lot of money through this as crypto currency can be a good option for cross border money transfers even from north korea. Previously it was mostly centralized exchange that were facing this type of exploits but now DApps are also being targeted especially the bridge that has been used to transfer crypto from one blockchain to another.

[martinex]

Hacking became an organized crime in the crypto industry. Especially on name came up frequently and that is north korea. Their government run hacking group is very good at finding exploits and kim is earning a lot of money through this as crypto currency can be a good option for cross border money transfers even from north korea. Previously it was mostly centralized exchange that were facing this type of exploits but now DApps are also being targeted especially the bridge that has been used to transfer crypto from one blockchain to another.

Yes, that's right, every exchange also faces the same thing, namely the risk of hacking and one of the problems that can arise is if the exchange has liquidity problems at a certain point in time and the place doesn't have to be just there as you mentioned above, but it can happen and has the potential anywhere

[gabbie2010]

Hacking became an organized crime in the crypto industry. Especially on name came up frequently and that is north korea. Their government run hacking group is very good at finding exploits and kim is earning a lot of money through this as crypto currency can be a good option for cross border money transfers even from north korea. Previously it was mostly centralized exchange that were facing this type of exploits but now DApps are also being targeted especially the bridge that has been used to transfer crypto from one blockchain to another.

Yes, that's right, every exchange also faces the same thing, namely the risk of hacking and one of the problems that can arise is if the exchange has liquidity problems at a certain point in time and the place doesn't have to be just there as you mentioned above, but it can happen and has the potential anywhere

I believe those hacks were carried out on Decentralized Finance (DeFi) related exchange probably there is some loopholes and bug on their system which hackers capitalized on to steal those funds and possibly with the aid of some insiders, I think their developers should improve on their security firewall and should be updated with  the latest security softwares and hardwares because hackers are getting more sophisticated in their operation and all new DeFI developers should ensure the security of their exchange should be their first priority before any launching of their token all these measure would prevent future hacking.

[Adreman23]

Since then, there have been hacking issues, especially in centralized exchanges like Mt. Gox, KuCoin, and even Binance. No matter how secure a platform's security is, if targeted by hackers, they can still breach it. We may need to learn from past hacking incidents. After using a platform, it might be wise to immediately withdraw your coins, where you control the private key.

As for signs of a bull run, it could be a possibility, given the consecutive hacking incidents happening now. However, it could also be otherwise, and it depends on how individuals interpret these events. I don't solely rely on hacking incidents as a sign.. instead, I look at the market charts price movements.

[Silberman]

Since then, there have been hacking issues, especially in centralized exchanges like Mt. Gox, KuCoin, and even Binance. No matter how secure a platform's security is, if targeted by hackers, they can still breach it. We may need to learn from past hacking incidents. After using a platform, it might be wise to immediately withdraw your coins, where you control the private key.

As for signs of a bull run, it could be a possibility, given the consecutive hacking incidents happening now. However, it could also be otherwise, and it depends on how individuals interpret these events. I don't solely rely on hacking incidents as a sign.. instead, I look at the market charts price movements.

That is the only defense we have against those hacks, exchanges regardless of how much they invest on their security will get hacked, that is a certainty, and someone that does not want to lose their coins in one of those incidents has not other option but to decrease as much as they can the amount of time their coins remain at an exchange, as in this way you can lower significantly the chances the exchange will get hacked while your coins remain there.

[Dr.Osh]

-snip-

Do you know? most hacked is always targeting third-service providers.

The attacker cannot attack a network, because is impossible they always attack a service-platform. You want to avoid these kind of case? stored your coin with your own wallet while you can have fully-control of your asset.

Not stored coin in exchange because "Not Your Key, Not Your Crypto".

that is very correct. Hackers always attack third parties, and maybe in the future that might happen again. Within 1 month, quite a lot of places were targeted by hackers, and I think when third parties were targeted, the victims were the users who stored their crypto there.
That's why, until now, many people have advised us not to store the crypto we have on exchanges. It would be better to keep it in our controlled wallet, and maybe a hard wallet is the best.

[yazher]

Hacking became an organized crime in the crypto industry. Especially on name came up frequently and that is north korea. Their government run hacking group is very good at finding exploits and kim is earning a lot of money through this as crypto currency can be a good option for cross border money transfers even from north korea. Previously it was mostly centralized exchange that were facing this type of exploits but now DApps are also being targeted especially the bridge that has been used to transfer crypto from one blockchain to another.

That's why it's really hard to trust these exchanges due to the fact they are not totally capable of recovering the funds once they get hacked. But there seems to be a conspiracy theory behind these incidents because they all happened in November and that's not really good news for some newbie investors who have just been starting their journey as crypto investors. this time is not really the right time and the only ones celebrating is the SEC because they are winning every battle with their solid evidence against these coin owners and exchanges.

[Bedechike111]

AI is dominating the narrative as one of the promising trends in 2024, Part of my November hack include exploring deep into the  AI narrative, its exciting to watch what inQUBETA been building lately for AI-Startups, letting Ai startups create investment NFTs listed for QUBE token holders. Also opportunities are divided into fractional NFTs allowing budget Friedly investments on the platform. As the projects progress, investors gets to earn rewards through equity NFT.

[Bushdark]

All of these happened this November? That's a lot, most of them I have never heard any major news.
Are these signs of bull runs? No. I don't think that hacks should be indications that we're already in the bull run.
And that is because even when we were on the bear market, there were hacks already and these hackers don't choose a season to hack a project.

Hack is one of the major challenges of cryptocurrency projects and the need for high security is of great value. If not for the frequent hacks we had been seeing in the Crypto market, the market would be been more safe for both investors and project team. This is one of the reason why we must maintain high precaution level to keep our crypto portfolio safe from any intruders.
This is one of the reasons why we don't have to keep our crypto tokens on exchanges because if they eventually got hacked, it could affect us severely.

[AnonBitCoiner]

To avoid the activities of hackers we should regulary check our assets and if we find that out asset are missed then we should change whole details and place of our remaining coins. All processes of cryptocurrency are taking place online therefore there is a great chance of hacking.  Some people are unable to buy crypto coins therefore they are in Struggle to hack the wallets of other holders during Bull season because during Bull season market price higher and hackers always think to get profit from Bull season. People are often afraid of hacking so if this process last longer then no body will trust cryptocurrency and will move towards another way of earning.

[goaldigger]

To avoid the activities of hackers we should regulary check our assets and if we find that out asset are missed then we should change whole details and place of our remaining coins. All processes of cryptocurrency are taking place online therefore there is a great chance of hacking.  Some people are unable to buy crypto coins therefore they are in Struggle to hack the wallets of other holders during Bull season because during Bull season market price higher and hackers always think to get profit from Bull season. People are often afraid of hacking so if this process last longer then no body will trust cryptocurrency and will move towards another way of earning.

The problem here is that, the victim here is the exchanges where we are expecting to be more secured and yet they exposed us to a hackers and even if we check our holdings there we might still be affected especially if the site decided to freeze all the accounts until further notice. It’s good that the market is still growing despite of these, let’s just hope that there’s no inside job here and hope that those exchanges will help their users too and ensure to be more safe.

[nelson4lov]

Hacks will continue to be a thing in this space because of the following reasons:

• No software system is 100% free from hacks.
• Plenty of web3 projects strongly neglect the importance of security — even though you report a live vulnerability to them, they just sort out ways to downplay you. Very little incentives to be a whitehat vs blackhat when you can take 10% bounty or illegally keep it

I'm a big fan of DeFi but hacks makes it harder to onboard new users. Why onboard users when they can suffer hacks amd even MEV attacks?